Swedish technology group OMX is to implement a new trading system, Genium, across the securities exchanges it operates in the Nordic and Baltic regions.
OMX says Genium - which it touts as the world's fastest trading system - will eventually manage all dealing, post trade and information services across its Nordic exchange group. The vendor says the system has been designed to provide exchanges with high capacity, low latency and scalability.
The vendor will begin rolling out the system across its Nordic exchange group - which includes the Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga and Vilnius stock exchanges - this year.
The platform will initially be used for FIX access to equity market data, and will be extended to provide FIX access to equity and derivatives trading in 2008. Thereafter the exchanges will move cash and derivatives trading to the Genium platform.
Jukka Ruuska, president, OMX Nordic Exhange, says: "The Nordic Exchange is an integral part of the development of Genium and our customers will be the first to take advantage of its new capabilities, including improved speed and trading efficiency."